Outlook for wage ascend in UK cools

09:34 25.09.2017

Hopes for higher wage surge across the United Kingdom are going down, except from in several sectors of the labor market, which suffer from acute skill shortages, as a report issued on Monday by recruitment company Hays states.

Difficulties experienced faced by the vast majority of UK employers in hiring the right staff declined versus 2016, although still staying high, as follows from Hays' annual Global Skills Index.

Earlier this month the BoE stuck to its view that wage surge will revive over the next few years because it signaled that it was about to lift interest rates already in November. It’s going to be the first time rate hike for more than 10 years.

However, official data has demonstrated that annual wage surge stuck approximately 2% notwithstanding UK unemployment rate diving to its lowest value for more than four decades.

IT, engineering as well as cyber security suffered the most from a shortage of skilled employees.